Global Retirement Partners LLC Grows Position in Parker-Hannifin Co. (NYSE:PH)

Global Retirement Partners LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 33.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 909 shares of the industrial products company’s stock after purchasing an additional 229 shares during the period. Global Retirement Partners LLC’s holdings in Parker-Hannifin were worth $419,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Wilbanks Smith & Thomas Asset Management LLC boosted its holdings in shares of Parker-Hannifin by 0.7% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock valued at $1,417,000 after acquiring an additional 25 shares during the last quarter. M&R Capital Management Inc. boosted its holdings in Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after buying an additional 25 shares in the last quarter. Acropolis Investment Management LLC boosted its holdings in Parker-Hannifin by 4.8% during the third quarter. Acropolis Investment Management LLC now owns 563 shares of the industrial products company’s stock worth $219,000 after buying an additional 26 shares in the last quarter. TFG Advisers LLC boosted its holdings in Parker-Hannifin by 1.3% during the third quarter. TFG Advisers LLC now owns 2,145 shares of the industrial products company’s stock worth $836,000 after buying an additional 28 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its holdings in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after buying an additional 28 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $551.01 on Tuesday. Parker-Hannifin Co. has a 12-month low of $308.26 and a 12-month high of $561.13. The stock has a market cap of $70.76 billion, a P/E ratio of 27.28, a PEG ratio of 2.05 and a beta of 1.52. The company has a 50-day moving average price of $522.01 and a 200 day moving average price of $456.26. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the business earned $4.76 earnings per share. Parker-Hannifin’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that Parker-Hannifin Co. will post 24.2 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s payout ratio is currently 29.31%.

Insider Buying and Selling

In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the transaction, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,079 shares of company stock worth $6,099,566. Insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Stifel Nicolaus restated a “buy” rating and set a $588.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, March 5th. Wolfe Research restated a “peer perform” rating on shares of Parker-Hannifin in a research report on Monday, December 11th. Barclays upped their price objective on shares of Parker-Hannifin from $500.00 to $558.00 and gave the stock an “overweight” rating in a research report on Monday, February 5th. Truist Financial assumed coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 price objective for the company. Finally, Evercore ISI upped their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $504.56.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.